Piper Jaffray Reiterates Neutral, $42 Target on Orthofix
Piper Jaffray maintains its Neutral rating and $42 target price on Orthofix International NV (NASDAQ: OFIX) on increased confidence in company's ability to deliver stable and improving top-line trends.
Piper Jaffray says, “The Company has proven itself to be able to deliver above market growth in spine for a number of quarters, granted that the WW spine market is roughly flat. Management sees substantial further opportunities in the US, where the company's geographic presence only covers around 1/3 of the market. We see the company's efforts to round out its product portfolio with MIS and deformity as paying off, enhanced further by strong growth in Trinity Evolution and the company's synthetic bone graft.”
OFIX closed at $34.27 per share on Wednesday.
